Sponsored by:
Assemblyman CLINTON CALABRESE
District 36 (Bergen and Passaic)
SYNOPSIS
Reallocates standardbred horse racing purse subsidies from Freehold Raceway to Meadowlands Racetrack under certain circumstances.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning standardbred horse racing purse subsidies and amending P.L.2019, c.36.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 1 of P.L.2019, c.36 (C.5:5-99.1) is amended to read as follows:
1. There shall be appropriated out of the General Fund of the State in the current fiscal year 2019 and in each of the ten fiscal years thereafter $20,000,000 annually to the New Jersey Racing Commission to be used for horse racing purse subsidies. These amounts shall be allocated by the New Jersey Racing Commission equally between the thoroughbred industry and the standardbred industry. Of the funds allocated to the thoroughbred industry, 100 percent shall be allocated to Monmouth Park overnight purses. Of the funds allocated to the standardbred industry, 60 percent shall be allocated to Meadowlands overnight purses; 16 percent to Freehold overnight purses; 12 percent to the New Jersey Sire Stakes purses; 6 percent to purse bonuses for New Jersey sired horses; and 6 percent for breeders awards purses; except that, in the event that live racing programs cease to be conducted by the permit holder at Freehold Raceway, the New Jersey Horse Racing Commission shall reallocate to Meadowlands overnight purses any and all funds allocated to Freehold overnight purses pursuant to this section until such time as a permit holder resumes live racing programs at Freehold Raceway.
(cf: P.L.2024, c.76, s.1)
2. This act shall take effect immediately.
STATEMENT
This bill directs the New Jersey Racing Commission to reallocate to Meadowlands overnight purses any and all overnight purse subsidies previously allocated to Freehold overnight purses during periods of time when there are no live racing programs being conducted at Freehold Raceway. Under current law, of the funds allocated to the standardbred industry, 16 percent are allocated to Freehold overnight purses and 60 percent are allocated to Meadowlands overnight purses.
This bill responds to the recent news that Freehold Raceway would be closing and ceasing all live racing programs at the end of 2024. In the event that a horse racing permit holder begins conducting live racing programs at Freehold Raceway in the future, the terms of this bill would allow for the 16 percent share of purse subsidies to be allocated to the standardbred industry as Freehold overnight purses.
This bill does not affect the purse subsidy allocations made under current law to the thoroughbred industry, or to the standardbred industry’s Sire Stakes program, bonuses for New Jersey sired horses, or for breeder awards.